U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On – Chington Development Society, Manipur - 28/2014 - Income Tax

NOTIFICATION NO. 28/2014 DATED 31-7-2014 S.O. 1951(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 3021(E), dated 23.10.2010 issued under clause (b) of the Explanation to Section 35AC of the Income-tax Act, 1961 (43 of 1961) , the Central Government had notified at serial number 23, Economic Empowerment of Tribal poor through Income Generation Programme by Chington Development Society, Phaibung Khullen, P.O. Senapati, Senapati District, Manipur-795106 , as an eligible project or scheme, at the estimated cost of 484.50 lakh, for a period of three years ending with financial year 2012-13; And whereas the said project or scheme is likely to extend beyond 3 years; And whereas the project cost is likely to enhance from 484.50 lakh to 1007.50 lakh; And whereas the National Committee for Promotion of Social and Economic Welfare, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules , for specifying the said project or scheme for a further period of three years and also enhancing the project cost from 484.50 lakh to 1007.50 lakh. Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to Section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby (i) notifies the scheme or project Economic Empowerment of Tribal poor through Income Generation Programme , which is being carried out by Chington Development Society, Phaibung Khullen, P.O. Senapati, Senapati District, Manipur-795106 , for a further period of three years commencing with financial year 2013-14, i.e., 2013-14, 2014-15 and 2015-16, but with the direction that as the financial year 2013-14 has already elapsed, no certificate under Section 35AC (1) of the IT Act, 1961 shall be issued for the said financial years 2013-14, and (ii) amends the said notification number S.O. 3021(E), dated 23.10.2010, to the following effect, namely:- In the said notification, in the Table against serial number (3), in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC , for the letters, figures and words Rs. 484.50 lakh , the letters, figures and words Rs. 1007.50 lakh , shall be substituted . [F.NO.V.27015/1/2014-SO(NAT.COM)]